Newsletter
August 2020 Newsletter
Working from home deductions: 'shortcut' rate extended
The ATO has extended, from 30 June 2020 to at least 30 September 2020, the “shortcut” rate for claiming work-from-home running expenses. This shortcut eligible taxpayers to claim running expenses incurred between 1 March 2020 and 30 September 2020 at the rate of 80 cents per work hour, provided they keep a record of the number of hours worked from home – for example, using a workplace timesheet.
People eligible to use the shortcut rate are employees and business owners who:
• work from home to fulfil their employment duties or to run their business during the period 1 March 2020 to 30 September 2020; and
• incur additional running expenses that are deductible under the tax law.